Reliance & Infosys amongst the ‘large cap buys’ in Nov by the fund houses

Demonetisation is affecting the market moves and moods and has indeed created lot of uncertainty in the equity markets in India. With several economists pegging the GDP slowdown by atleast a full one percentage point as an impact of demonetisation, the lower stock prices for several of the large cap stocks has caught the fancy of fund managers of large asset management companies. 

Clearly Infosys was one of the favourites in the large cap space, and for the month of November the rupee depreciation does augur well for the sector at large.

Along with Infosys, HCL tech is another IT stock which saw fresh buying by the fund managers in November. 
RIL, L&T, SBI, ICICI Bank, M&M, NTPC and Sun Pharma are amongst the few large cap stocks which saw buying by the MFs in the month of November.

FPIs have been net sellers in Indian markets. The trend of FPIs selling in Indian markets is expected to continue for a while even as US fed is expected to raise rates by 25 bps at least.

MFs have been providing the much required cushion to markets as reflected by their buying in markets to the tune of $ 1.9 billion in the month of November.